18:38:03 EDT Mon 17 Jun 2024
Enter Symbol
or Name

Gold Terra Resource Corp
Symbol YGT
Shares Issued 281,202,484
Close 2023-11-14 C$ 0.07
Market Cap C$ 19,684,174
Recent Sedar Documents

Gold Terra drills 1.7 m of 12.93 g/t Au at Con

2023-11-15 11:26 ET - News Release

Mr. Gerald Panneton reports


Gold Terra Resource Corp.'s assay results, including 12.93 grams per tonne gold over 1.7 metres in drill hole GTCM23-055, have confirmed the extension of high-grade gold mineralization in the Campbell shear (CS) below the Con mine underground workings on the Con mine option (CMO) property. The CMO Property is under option from subsidiaries of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property agreement, as reported in the Company's news release dated November 22, 2021.

Chairman and CEO, Gerald Panneton, commented; "The results from drill hole GTCM23-055 have confirmed our interpretation and given us great confidence to find additional high-grade ounces at depth typical of the CS as:This is a 100% technical success in extending the Campbell Shear at depth,High grade gold has been intersected with the presence of quartz veining and alteration,This may be a narrow intersection, but typical of the CS structure variance in width and grade,This opens the entire 1-kilometre strike length with a potential for more ounces with more drilling at depth near the current bottom of the Robertson shaft (-1900 metres),Drilling is continuing with a lateral wedge from the Master hole targeting the CS some 75 metres north of the first intersection,More wedges are to be done from this Master hole in the coming months. "


The Campbell Shear was successfully intersected from a downhole depth of 2,075 to 2,137.5 metres for a total of 62.5 metres. This intersection demonstrates the continuity of this major structure below the deepest mining operations with the presence of a substantial shear structure with impressive widths (See figures 1 and 2). Approximately 30 metres of the CS within the footwall of the structure is moderately to strongly sheared and contains intermittent zones of prominent smoky quartz veining and pyrite, pyrrhotite, sphalerite, arsenopyrite, and stibnite mineralization, and most importantly high-grade gold.

A quartz vein at 2,116 metres contained fine specks of visible gold.

Assay highlights include 2.93 g/t Au over 8.2m from 2,115.8 to 2,124m, including 12.93 g/t Au over 1.7m from 2,115.8 to 2,117.5m and, including 30 (uncut) g/t Au over 0.5 metres from 2117 to 2117.5 metres.

The mineralized section of the core is very similar to historic mineralized sections that were mined out in the former Con Mine (see Photo 1).

Directional drilling

The company is continuing its drill program using hole GTCM23-055 as a master hole to add multiple wedges or cuts into the Campbell shear structure. With Foraco's Control Directional Drilling team, already on site in Yellowknife, we are able to continue our assessment of the Campbell Shear to obtain more intersections on a 50 to 100m spacing laterally and up dip.Qualified PersonsJoe Campbell, P. Geo., Senior Technical Advisorfor Gold Terra is a Qualified Person within the meaning of NI 43-101 and has reviewed and approved the technical information contained in this news release.About Gold Terra

The Yellowknife Project (YP) encompasses 918 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell Shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).

The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Visit our website at www.goldterracorp.com.

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